Trade Report: Today, BNP Paribas Arbitrage SA Reduces Stake in PPG Industries Inc. (PPG)

Today, BNP Paribas Arbitrage SA Reduces Stake in PPG Industries Inc. (PPG)

BNP Paribas Arbitrage SA lowered its stake in shares of PPG Industries Inc. (NYSE:PPG) by 51.9% during the third quarter, Holdings Channel reports. The fund owned 38,751 shares of the company’s stock after selling 41,739 shares during the period. BNP Paribas Arbitrage SA’s holdings in PPG Industries were worth $4,005,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Cable Hill Partners LLC boosted its stake in PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock valued at $142,000 after buying an additional 25 shares during the last quarter. Ropes Wealth Advisors LLC boosted its stake in shares of PPG Industries by 2.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,697 shares of the company’s stock worth $177,000 after buying an additional 37 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of PPG Industries by 3.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,944 shares of the company’s stock worth $202,000 after buying an additional 59 shares in the last quarter. Concert Wealth Management Inc. boosted its stake in shares of PPG Industries by 9.2% in the second quarter. Concert Wealth Management Inc. now owns 1,969 shares of the company’s stock worth $203,000 after buying an additional 166 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of PPG Industries by 8.5% in the second quarter. Signaturefd LLC now owns 2,086 shares of the company’s stock worth $217,000 after buying an additional 163 shares in the last quarter. 71.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of PPG Industries Inc. (NYSE:PPG) traded down 0.79% during trading on Monday, reaching $97.35. 1,251,211 shares of the company were exchanged. PPG Industries Inc. has a 1-year low of $88.37 and a 1-year high of $117.00. The firm has a market capitalization of $25.70 billion, a PE ratio of 30.92 and a beta of 1.40. The company’s 50-day moving average is $94.05 and its 200 day moving average is $102.69.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, October 20th. The company reported $1.56 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.56. PPG Industries had a net margin of 5.56% and a return on equity of 30.59%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period last year, the firm earned $1.61 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that PPG Industries Inc. will post $5.91 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.64%. PPG Industries’s dividend payout ratio is presently 51.12%.

A number of analysts have recently commented on PPG shares. Credit Suisse Group AG reissued a “buy” rating and issued a $115.00 price target on shares of PPG Industries in a research report on Tuesday, August 9th. Zacks Investment Research cut PPG Industries from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. Jefferies Group reissued a “buy” rating and issued a $129.00 price target on shares of PPG Industries in a research report on Wednesday, October 5th. Deutsche Bank AG cut PPG Industries from a “buy” rating to a “hold” rating and dropped their price target for the stock from $122.00 to $100.00 in a research report on Monday, October 10th. Finally, Royal Bank Of Canada dropped their price target on PPG Industries from $125.00 to $106.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 11th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $113.42.

PPG Industries Company Profile

PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

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